Fitch Upgrades Whole Auto Loan Trust 2004-1.

NEW YORK -- Fitch Ratings upgrades three classes and affirms one class of Whole Auto Loan Trust 2004-1.

The rating actions are as follows:

Whole Auto Loan Trust 2004-1

--Class A notes affirmed at 'AAA';

--Class B notes upgraded to 'AAA' from 'AA';

--Class C notes upgraded to 'AA' from 'A+';

--Class D notes upgraded to 'A+' from 'BBB'.

The rating actions are a result of increased available credit enhancement in excess of stressed remaining losses. Current principal allocation and expected future cash flows are also contributing factors.

The collateral continues to perform within Fitch's base case expectations. Currently, under the credit enhancement structure, the securities can withstand stress scenarios consistent with the rating categories and still make full payments of interest and principal in accordance with the terms of the documents.

As before, the ratings reflect the quality of DaimlerChrysler Services North America LLC (DCS), Ford Motor Credit Company (Ford Credit), and General Motors Acceptance Corporation (GMAC) retail auto loan originations, the sound financial and legal structure of the transaction, and the strength of servicing provided by DCS, Ford, and GMAC.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.